Shell Signals Another Poor Quarter for Oil Majors Energy giant warns of third-consecutive quarterly loss for its oil-and-gas production business, and a further write-down Fracking regularly comes under scrutiny, but it’s an integral part to the cyclical nature of energy markets. Heard on the Street’s Jinjoo Lee explains how it all works. Photo: David McNew/Getty Images By Updated Dec. 21, 2020 6:33 am ET Royal Dutch Shell PLC said it would write down the value of its assets by up to $4.5 billion and warned of another set of poor earnings for the fourth quarter, showing how the oil-and-gas industry continues to struggle amid the fallout of the pandemic.